U.S. Stocks Set to Extend 2-Week Rally Amid Hopes for Iran War's End

Barry Adams
16 Apr, 2026
New York City

Stocks on Wall Street retained an upward bias amid expectations that a potential deal between Iran and the U.S. is likely to materialize as early as this week.

The S&P 500 Index edged up 0.1%, and the tech-heavy Nasdaq Composite inched higher 0.2% as investors held out for the shipments of energy products through the Strait of Hormuz.

Benchmark indexes recovered more than 10% over the last twelve trading sessions, erasing losses since the start of war on Iran at the end of February. 

West Texas Intermediate crude oil prices edged up 0.4% to $91.67 a barrel, and the international benchmark, Brent crude, advanced 1% to $95.82 a barrel.

Despite the brewing enthusiasm, investor sentiment remained fragile amid ongoing uncertainties over Persian Gulf energy production and shipments. 

Higher energy prices have begun to ripple through the broader U.S. economy as retailers raise prices of food and chemical and paint makers pass on higher energy prices to consumers. 

 

U.S. Movers 

J.B. Hunt Transport Services advanced 2.4% to $228.75 after the trucking and logistics services provider reported better-than-expected first-quarter results. 

The logistics company reported earnings of $1.49 a share on revenue of $3.1 billion, surpassing market expectations. 

Taiwan Semiconductor declined 1.7% to $368.56, and the advanced chipmaker reported a 58% jump in earnings in its latest quarter.

Revenue in the March quarter jumped 35% to a record high of NT $1.14 trillion, and net income surged 58% to a record high of NT $572.5 billion. 

In U.S. dollars, first quarter revenue was $35.90 billion, an increase of 40.6% from a year ago and 6.4% from the previous quarter. 

The Taiwan-based company estimated second-quarter revenue to range between $39.0 and $40.2 billion and operating profit margin between 56.5% and 58.5%. 

PepsiCo jumped 1.3% to $156.89 after the snack and beverage company's first-quarter results surpassed market estimates. 

Revenue increased 8.5% to $19.4 billion from $17.9 billion, net income advanced to $2.3 billion from $1.8 billion, and diluted earnings per share rose 27% to $1.70 from $1.33 a year ago.

Net revenue increased 8.5% due to a 3.4 percentage-point benefit from foreign exchange translation, 2.6% organic revenue growth, and a 2.5 percentage-point net benefit from acquisitions and divestitures.

PPG Industries advanced 4% to $112.00 after the paint coating manufacturing company announced a global price increase of 20% across all its product lines.